Property Overview
This one-storey home on Mighton Avenue in Winnipeg's Chalmers neighbourhood presents a specific and straightforward opportunity. Built in 1924, its key characteristic is a generous 3,084 sqft lot paired with a modest 725 sqft living area. The home features a detached garage and a basement that is present but not renovated. The property last sold in 2017 for $170,000, and its current assessed value is well below the citywide average.
Its primary appeal lies in its land value and potential. The lot size is above average for the street and neighbourhood, offering room for expansion, gardening, or outdoor living that is uncommon for homes in its price range. It suits a practical buyer looking for an entry point into homeownership with a focus on the long-term value of the land itself, or a hands-on individual who sees potential in a smaller, character home that they can renovate or expand over time. It is less suited for those seeking immediate move-in condition or above-average interior space.
Frequently Asked Questions
What does "basement not renovated" typically mean?
In a home of this era, it usually indicates a foundational cellar space with concrete walls and floor, housing the furnace and utilities. It likely has low ceilings, may be damp, and is unfinished, serving for storage rather than living space.
Is the low assessed value a concern?
Not necessarily. It primarily reflects the home's small size and unrenovated state compared to citywide averages. For the Chalmers neighbourhood, the assessment is around average, suggesting it's priced appropriately for its condition and location, which can mean a lower property tax burden.
How does the lot size compare to nearby homes?
The lot is larger than average for both Mighton Avenue and the broader Chalmers area. This is a key advantage, offering more outdoor space than many neighbouring properties and providing a tangible asset for future enjoyment or improvement.
What is the neighbourhood like?
Chalmers is an established, older neighbourhood with homes from the early 1900s. The property's metrics (lot size, year built, value) are all very typical for this area, indicating a stable, no-frills community without the premium prices of newer subdivisions.
Who would this property not be a good fit for?
It would not suit buyers who need ample finished living space immediately, desire modern amenities, or are unwilling to take on future renovation projects. The small interior and unrenovated basement require a vision for gradual improvement.